2016-06-21_EDA_Agenda_Packet - Laserfiche WebLink

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Identify & implement preferred approach to providing staff and/or consulting capacity for 28 – In Progress economic development (21) 29 Business Friendly Practices & Reputation 30 Policy Clear Incentive policies & processes (23) – 31 Policy & Acquisition/Redevelopment Support “Shovel Ready” sites (22) – 32 Policy Listen & adjust policies that aren’t working (21)- 33 Financing/Incentives 34 - Policy Clear policies: business subsidy, TIF, tax abatement (23) 35 Redevelopment, Reuse, Revitalization (other areas, facades) 36 - Proactive Engage property owners, affected business owners & residents (23) 37 38 2016 Staff Capacity – Policy Development 39 Staff currently has general business subsidy policies and TIF policies that have been provided by 40 Springsted, Inc. Staff also has a baseline framework for incentive policies, including a Twin Lakes 41 Incentive Policy from 2008 that can be used as a starting point. To adaptthe policies for current 42 needs, staff would need assistance from a consultant. 43 44 The EDA will need to determine which policies should be reviewed/created in 2016 and which can 45 be reviewed in 2017. The EDA could consider a larger Business Subsidy Policy that encompasses all 46 possible incentive options. Appropriate funds to work with a consultant on developing policies in 47 $10,000. 2016 may fall in the realm of 48 49 2016 Staff Capacity – Acquisition/Redevelopment Support 50 The EDA has taken a more active interest in land purchases and shovel-ready programs. Staff has 51 the capacity, with the assistance of our real estate attorney/other consultants, to project-manage sites 52 that are in various stages of acquisition. 53 54 Staff suggests that in 2016 the EDA consider allocating dollars toward developing a framework for 55 site acquisition. A framework will help Staff and the EDA determine where the priority areas are, 56 when to bring a site forward to the EDA for consideration, and articulate when a consultant should 57 be engaged. A consultant would need to be hired to assist in developing such a framework, and staff 58 $10,000 estimates the cost at . There would also be additional costs for specialized consultants to 59 assist in the acquisition process as needed. 60 61 2016 Staff Capacity – Proactive Economic Development 62 The EDA has identified as a priority a heightened level of engagement in various areas of economic 63 development as indicated by the initiative titled, “Resident Oriented/Neighborhood Commercial.” 64 One area where this is already happening is in Southeast Roseville where staff is working with a 65 multi-jurisdictional planning group to determine the best way to approach the Rice/Larpenteur 66 corridor revitalization. The group is also working on a visioning process that would include efforts 67 to engage the surrounding community. At a City Council meeting in April, staff outlined several 68 visioning options for Southeast Roseville and estimated the cost at that time to range from $20,000 - 69 , $50,000 depending on the level of staff involvement. Although the cost of visioning, engagement, 70 and reinvestment is unknown at this time, staff suggests that the EDA consider setting aside a funds 71 in 2016 to continue the Southeast Roseville visioning efforts already underway. The suggested 72 $40,000. amount of funds to be budgeted fall in the middle range of visioning at, 73 74 Page 2 of 6